The g-20 summit concluded today in St Petersburg Russia with the general consensus on strengthening growth and creating jobs. It was also decided to link investment with employment.

Speaking to newspersons on the outcome of summit secretary department of economic affairs Arvind Mayaram said that there was also consensus on creating standards for automatic exchange of information on taxes related to multi-national companies to prevent cross border tax evasion and profit shifting.

He said, in the joint declaration released after the end of summit there is also mention of spill over effects in the emerging markets due to US plan of gradual withdrawal of stimulus.

Dr.Mayaram said, on this front all the countries have agreed for coordinated effort to calibrate and communicate their monitory policy decisions.This will help preventing market uncertainty and exchange rate volatility. The leaders also committed to avoid tax avoidance.

He further added that the summit also noted the importance of food security globally. India highlighted achievement on this front and offered to share its experience.